August 25, 2016 / 1:42 PM / 2 years ago

Brazil loan defaults rise in July

BRASILIA/SAO PAULO, Aug 25 (Reuters) - Loans delinquent for at least 90 days in Brazil climbed for the third month in four in July, a sign that a harsh recession and the highest borrowing costs in a decade are preventing companies from staying current on their debt.

The so-called default ratio, a benchmark for loan delinquencies, rose to the equivalent of 5.7 percent of outstanding non-earmarked loans last month, compared with a revised 5.6 percent ratio in June, the central bank said in a report. (Reporting by Marcela Ayres and Guillermo Parra-Bernal Editing by W Simon)

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